PORT HURON, Mich., Aug. 9 /PRNewswire-FirstCall/ -- SEMCO ENERGY, Inc.
(NYSE: SEN) today announced the pricing of its public offering of 4,300,000
shares of its common stock at a price of $6.32 per share. The gross proceeds,
before commissions and expenses, of the public offering will be approximately
$27.2 million. The Company has also granted the underwriters of the offering
an over-allotment option to purchase an additional 645,000 shares of common
stock. All of the shares are being sold by the Company. The offering is
expected to close on August 15, 2005.
Credit Suisse First Boston LLC is acting as lead manager for the offering.
Natexis Bleichroeder Inc. and A.G. Edwards are acting as co-managers.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state. A shelf registration statement relating to the shares of
common stock that the Company intends to sell has previously been filed with,
and declared effective by, the Securities and Exchange Commission. Any offer
of shares of common stock will be made only by means of a prospectus,
including a prospectus supplement, forming a part of the effective
Copies of the final prospectus supplement and accompanying prospectus may
be obtained from Credit Suisse First Boston, Prospectus Department, 1 Madison
Avenue, New York, New York 10010-3629 (212-325-2580).
SEMCO ENERGY, Inc. distributes natural gas to more than 404,000 customers
combined in Michigan, as SEMCO ENERGY GAS COMPANY, and in Alaska, as ENSTAR
Natural Gas Company. It also owns and operates businesses involved in propane
distribution, intrastate pipelines and natural gas storage in various regions
of the United States.
The following is a "Safe-Harbor" statement under the Private Securities
Litigation Reform Act of 1995. This release contains forward-looking
statements that involve risks and uncertainties. Statements that are not
historic facts, including statements about the Company's outlook, beliefs,
plans, goals and expectations, are forward-looking statements. Factors that
may impact forward-looking statements include, but are not limited to, the
effects of weather, the economic climate, competition, commodity prices,
changing conditions in the capital markets, regulatory approval processes,
success in obtaining new business, success in defending claims against the
Company, and other risks detailed from time to time in the Company's
Securities and Exchange Commission filings.
SOURCE SEMCO ENERGY, Inc.
Analysts Contact, Thomas Connelly, Director of Investor
Media Contact, Timothy Lubbers, Director of
Marketing & Corporate Communications, 1-810-887-4208
9492 08/09/2005 20:28 EDT http://www.prnewswire.com